SEC Wraps Fraud Suit Against Ex-Credit Suisse Broker

Law360, New York (June 16, 2010, 4:19 PM EDT) -- The U.S. Securities and Exchange Commission has secured a judgment against one of two former Credit Suisse Group brokers accused of fraudulently selling $1 billion in auction rate securities.

Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York signed off on Julian Tzolov’s consent judgment Tuesday, terminating the SEC’s case against the broker, who is also facing sentencing in a criminal proceeding.

While the judgment bars Tzolov from violating the securities laws, the SEC has yet to seek disgorgement...